Abet Chichi2

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Dow Update for May 14, 2019
By: MARTY ARMSTRONG | May 14, 2019

On our system models, we see support at 25200 while yesterdays low came in at 25222.51. Technical support lies at the Break Line residing at 25178. We do have a gap between this area and the next bank of support which lies at 24400 area followed by the critical support at 23700. 

Next week is a Directional Change so we ideally should see the low form this week. We do have a Daily Bearish Reversal at 25312. Yesterday's closing was 2532499. Closing below 25312 today would warn that we could still spill over into tomorrow, but today might then unfold as the lowest closing.

Only a closing below the 25200 area would warn of a possible further sharp decline.

Keep in mind that this is still a consolidation period and it is not likely to change until we enter 2020.

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